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Netflix paid $587 million for Ben Affleck’s artificial intelligence film startup | TechCrunch

Netflix paid $587 million for Ben Affleck’s artificial intelligence film startup | TechCrunch

In a new regulatory filing, Netflix revealed that it paid $587 million in cash for InterPositive, a startup co-founded by actor and director Ben Affleck. The streaming company announced the acquisition in March, with a statement from Affleck saying he wanted to “protect the power of human creativity.” According to Affleck, InterPublic’s AI tools help

In a new regulatory filing, Netflix revealed that it paid $587 million in cash for InterPositive, a startup co-founded by actor and director Ben Affleck.

The streaming company announced the acquisition in March, with a statement from Affleck saying he wanted to “protect the power of human creativity.” According to Affleck, InterPublic’s AI tools help filmmakers improve their footage in post-production, particularly when it comes to compensating for “real-world production challenges, like missed shots, background replacements, or incorrect lighting.”

At the time, Netflix announced that the entire InterPositive team would be joining the company, with Affleck serving as a senior advisor, but did not disclose the financial terms of the deal. A subsequent report in Bloomberg suggested the deal could be worth up to $600 million.

In its most recent earnings report, Netflix said that around 300 of its titles have already used generative AI.

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